Talent teams and recruiters are facing an ever-increasing pressure to hire right, hire fast and do so with less headcount and resources. Talent Intelligence – the use of AI in recruiting and talent management – saves recruiters up to 90% of time on manual tasks such as resumé review and passive search, and can instantly improve your recruiting stats. Here’s how: Increase and Optimize Passive Search According to Workonic, more than 73 percent of workers say that while they aren’t actively looking for a job, they would consider new opportunities that come along. Even more interesting to note is that more than a quarter of the workforce says it wasn’t searching for a job when they were offered their current roles. There are two important takeaways from these numbers:
- You need to be working hard to hold on to your top talent because if you don’t, they could be tempted by better opportunities even when they aren’t looking.
- Passive searching is incredibly important, and is, perhaps, one of the most important things you can do to hire the best talent out there.
Passive searching may be daunting, but companies who start early have a clear advantage: 42 percent of employed Americans say they haven’t heard from any recruiters in the last year. Censia’s Talent Intelligence Platform allows users to conduct instant passive searches from more than 500 million professionals. Coupled with its ideal candidate models, delivers a ranked slate of passively sourced talent to recruiters in minutes, rather than the 25 hours it takes to source a candidate the old fashioned way. Improve Communications Candidate experience is all the buzz right now, and today’s job seekers want to be informed at every level of the hiring process. 53 percent of candidates say they want to see clear expectations outlined on the job descriptions, and including a video with your job post can increase the application rate by 34 percent, according to Career Builder. Once a hiring decision is made, 64 percent of applicants say they would rather hear about the outcome of their application by text message than by phone or email. While the concept of communicating with prospective employees over text may seem foreign to some recruiters, recruiters need to keep in mind that nearly half the workforce is made up of millennials, and the global workforce will be made up of 75 percent millennials by 2025. If that text you’re sending is a “thank you, but we’ve decided to go another direction,” though, you might want to provide feedback for the near misses. Applicants say they are four times more likely to consider an opening with a company in the future when they were offered feedback regarding previous applications. Prioritize Diversity According to Glassdoor, a company can increase its profitability by 33 percent by employing racially and culturally diverse teams, the kind of teams that represent a variety of experiences and backgrounds that impact the ways they think and look at the world.
Learn the many financial and operational benefits of hiring a diverse workforce in our whitepaper Triple your Diversity with Talent Intelligence.
The same Glassdoor report found that a company’s culture and values account for the biggest percentage of employee satisfaction today. And today’s workers care about diversity, with nearly half of millennials saying they consider a company’s diversity and inclusion in their job search. Censia’s talent intelligence platform is designed to remove bias from the hiring process by creating multidimensional talent models that focus on skills and the likelihood to thrive in a role. It effectively eliminates unconscious affinity bias, and in most cases, instantly triples candidate pool diversity. Act Fast It’s important to know what you want in hiring, and to be prepared to act quickly when you find it. According to Workonic, the best candidates have typically lined up their next job within ten days of beginning the search. And Clutch found that 52 percent of recent hires applied for 5 or fewer jobs before taking on their next role. The best hires won’t wait around for you to figure out what you want. But with Censia helping to identify the best possible fit for your job, you can make those decisions quickly and even identify candidates before they begin their own active job searches. Work on Flexibility Flexible work environments are coveted opportunities among this generation of workers, with 62 percent citing work/life balance as the most important aspect of a company’s culture. More companies are responding to this demand, with LinkedIn finding a 78 percent increase in job posts that highlight work flexibility since 2016. The 2019 LinkedIn Global Trends Report identified workplace flexibility as one of the top trends in talent acquisition today. And 51 percent of hiring professionals say providing this flexibility attracts candidates while 54 percent say doing so improves retention. What this flexibility looks like may vary significantly between industries. Some companies can provide flexible work schedules or work from home options while others cannot. But if you want to attract and retain the best talent in your industry, finding ways to improve job flexibility needs to be a priority in 2020. Step into the FutureThe Society of Human Resources (SHRM) recently identified five recruiting trends for 2020, with predictive analytics being at the top of their list. “With predictive analytics, employers can move beyond basic measures, such as time-to-fill and cost-per-hire, and review more advanced data,” they said. This is precisely the technology Censia is proud to provide. So take the guesswork out of hiring and start putting your time and resources to better use.